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Now That I Have Higher Limits...

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Andy77
Valued Contributor

Now That I Have Higher Limits...

So, now that I have higher limits...how should I handle them.

 

Penfed Amex 20k limit..I charge like 400-1000 month and PIF

 

Capial One 20k limit...I will charge about 1500 month and PIF

 

 

I know over time my score will go up...I just dont CLD because I am not using the cards and runing higher charges through them, that is the only thing I fear...

 

Do you think my using those two cards as I stated is good ?

 

 

Message 1 of 7
6 REPLIES 6
heyarrnold
Valued Contributor

Re: Now That I Have Higher Limits...

You should be fine! My Amex has been at 25k for a year now. I used to heavily use it. Probably charged around 10-12k a month. But now I only charge between 800-1.2k a month and PIF. 

 

I haven't heard a peep from them Smiley Happy

Message 2 of 7
bigblue7722
Valued Contributor

Re: Now That I Have Higher Limits...

Yes I see no issues with what you are doing. Credit lines is all about risk. Your not making yourself more risky to the credit card companies by only using a small about of your credit line. If it was the other way around and u were using a lot and having trouble making the payments then I would say u could be in trouble.
AMEX PRG NPSL,Lowes $17000,Capital One venture card $12,000,Us Airways mastercard $9500,Fidelity Amex $9000, Discover it $8000, Capital One Venture One $7500, BOA 123 rewards $7500 CSP $6000, Capital One Quicksliver $5500, Amazon Store card$5000,Barclay
Card Ring $5000 Chase Marriott $5000,Chase Hyatt $5000, Sallie Mae Mastercard $4400, Paypal smart connect $4000,Chase Freedom $3200, Capital one Quicksliver visa $3000, Chase IHG Rewards $2300, Chase Southwest Premier $2000, Citi Double Cash $1500, AMEX BCE $1000

Last app July 22nd 2015- No apps for two years.
Message 3 of 7
s_haliz
Valued Contributor

Re: Now That I Have Higher Limits...


@Andy77 wrote:

So, now that I have higher limits...how should I handle them.

 

Penfed Amex 20k limit..I charge like 400-1000 month and PIF

 

Capial One 20k limit...I will charge about 1500 month and PIF

 

 

I know over time my score will go up...I just dont CLD because I am not using the cards and runing higher charges through them, that is the only thing I fear...

 

Do you think my using those two cards as I stated is good ?

 

 


You should be fine. As long as you don't max out, you are OK and credit score perspective, fine. Some articles advises to use 30% or less CL per month. Some says 10% is ideal. 

TU FICO 850 | EQ FICO 850 I EX FICO 850
Message 4 of 7
Anonymous
Not applicable

Re: Now That I Have Higher Limits...

Enjoy your credit flexibility!
Message 5 of 7
longtime_lurker
Valued Contributor

Re: Now That I Have Higher Limits...

I'm not sure many here utilize most/all of their credit limits given, and I don't see posts often (or really at all), where someone got a CLD for smaller amounts of use (and it does happen for non use). I'm sure it happens, in my case I have ~35k total CL and I charge 800-3k a month, and I keep seeing auto CLI's. Just as a data point

Current cards: MSUFCU Platinum, Amex PRG, Amex Surpass, Amex BCE, Citi Prestige, Citi Double Cash, Citi Premier, US Bank Cash +, Huntington Voice, AAviator, Sallie Mae, Discover IT, Chase Freedom TU:753 EQ Enhanced: 758
Message 6 of 7
SunriseEarth
Moderator Emeritus

Re: Now That I Have Higher Limits...


@Andy77 wrote:

So, now that I have higher limits...how should I handle them.

 

Penfed Amex 20k limit..I charge like 400-1000 month and PIF

 

Capial One 20k limit...I will charge about 1500 month and PIF

 

 

I know over time my score will go up...I just dont CLD because I am not using the cards and runing higher charges through them, that is the only thing I fear...

 

Do you think my using those two cards as I stated is good ?

 

 


Sounds good to me!

 

For data points, my SO's roommate has a $35K CL on his Delta Gold.   He spends ~$1500/month and PIF, and he's in the 800 club.   So he's doing something right.  



Start: 619 (TU08, 9/2013) | Current: 809 (TU08, 3/05/24)
BofA CCR WMC $75000 | AMEX Cash Magnet $64000 | Discover IT $46000 | Disney Premier VS $43600 | Venmo VS $30000 | NFCU More Rewards AMEX $25000 | Macy's AMEX $25000 Store $25000 | Cash+ VS $25000 | Altitude Go VS $25000 | Synchrony Premier $24,200 | Sony Card VS $23750 | GS Apple Card WEMC $22000 | WF Active Cash VS $18,000 | Jared Gold Card $16000 | FNBO Evergreen VS $15000 | Citi Custom Cash MC $14600 | Target MC $14500 | BMO Harris Cash Back MC $14000 | Amazon VS $12000 | Freedom Flex WEMC $10000 | Belk MC $10000 | Wayfair MC $4500 ~~
Message 7 of 7
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